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Enforcement
China, Hong Kong to Deepen Cross-Boundary Market Surveillance
By JP Reimann | 14/06/2018
Regulators discussed collaboration on market surveillance, intelligence sharing, coordinated investigations, and the establishment of a notification mechanism for cases involving dual listed shares and cross-boundary market misconduct.
Market Infrastructure
Hong Kong, Japan to Cooperate on Commodity Market Development
By Manesh Samtani | 12/06/2018
HKEX and Tokyo Commodity Exchange MoU to promote cooperation through information exchanges, staff exchanges, product development and joint promotion.
Enforcement
CBIRC, SFC to Cooperate on Cross Border Supervision
By JP Reimann | 11/06/2018
New MoU to facilitate information exchange in the interest of investor protection, promoting competence and integrity of regulated entities, market and financial integrity, and maintaining financial stability.
Crypto / Digital Assets
HKMA Finalises Virtual Bank Rules, Applications Now Open
By JP Reimann | 01/06/2018
Regulator publishes final guidelines but no change in capital requirements; companies seeking inclusion in first batch of virtual bank applications can apply by 31 August.
Enforcement
SFC Fines Hang Seng Asset Management Arm
By JP Reimann | 01/06/2018
Hang Seng Investment Management fined HK$3mn for cash management failures involving SFC-authorised funds it manages from 2010 to 2016.
Enforcement
SFC Fines Wealth Manager Noah Holdings for Internal Control Failures
By JP Reimann | 30/05/2018
The firm was fined HK$5mn for failures in client risk profiling and product due diligence, resulting in potentially unsuitable investment products being sold to clients.
Market Infrastructure
MAS, HKMA Commit to FX Global Code
By Editors | 30/05/2018
Over 200 global FX market participants have committed to the Code to maintain status as central bank counterparties.
Securities / Derivatives
SFC Introduces New Disclosure Rules for Discretionary Account Trading
By JP Reimann | 23/05/2018
SFC requires intermediaries to disclose incentives, trading profits arising from third party products; amendments to come into effect on 25 November 2018.
Capital / Liquidity
Hong Kong Bank Exposure Rules Gazetted
By Garima Chitkara | 21/05/2018
Government close to finalising legislative framework that will enable the HKMA to set concentration limits for banks’ equity exposures.
Securities / Derivatives
SFC Expands Professional Investor Rules
By JP Reimann | 21/05/2018
SFC’s new professional investor rules will expand categories, amend qualification threshold starting from 13 July 2018.
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